Innodata (NASDAQ:INOD) Shares Gap Down on Insider Selling

Innodata Inc. (NASDAQ:INOD) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $52.62, but opened at $49.02. Innodata shares last traded at $51.60, with a volume of 457,896 shares changing hands.

Specifically, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the transaction, the chief operating officer now owns 60,000 shares of the company’s stock, valued at $3,904,200. This trade represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now directly owns 12,417 shares of the company’s stock, valued at $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of research firms recently weighed in on INOD. Chardan Capital reissued a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. BWS Financial boosted their target price on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. Maxim Group lifted their price target on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.00.

Innodata Trading Up 0.2 %

The firm has a 50 day moving average of $43.49 and a 200 day moving average of $31.53. The firm has a market cap of $1.53 billion, a PE ratio of 62.02 and a beta of 2.57. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Innodata

Several large investors have recently modified their holdings of the business. Invesco Ltd. boosted its holdings in Innodata by 2.0% in the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company’s stock worth $466,000 after buying an additional 232 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Innodata by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company’s stock worth $447,000 after acquiring an additional 300 shares during the period. AlphaQuest LLC boosted its holdings in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after acquiring an additional 456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Innodata by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock valued at $608,000 after purchasing an additional 533 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Innodata during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.